The Somerset herald. [volume] (Somerset, Pa.) 1870-1936, 1887-10-26
S. V. White on Financiering.

-success in Wall Street depends good
heal upon mans environment. II he
gets into a brokers' office where there are
live and stirring men, and he has good
staying qualities, he will probably rise
from the humber duties of clerk TO a
wider field of operation. But there are
offices within stones throw where old
fogyism prevails, and q man might as
well be paving the streets for a fortune
as to enter one of them. There are en-
plovers who seem TO think that nobody
connected with them ought 20 rise. A
man seeking to make Wall street the
scene of his life work should exercise
great care and discrimination 10 avoid
snch men Does it require a special apti-
tude 10 secure success in Wall street ?
Well, yes; II requires special aptitude
to succeed in any business.
'-some men, he continued, "are Tim
Linkinwaters you remember Cheeryble
Brothers in Dickens ? Tim knew every
pigeonhole in their desks and was as ia
miliar and slow as possible. These men
do not rise fight above a plgeonhole
and they never make anything better
than highly priced confidential clerks
who are a great comfort 10 their employ
ers. That is an aptitude that has its man
fest use in the financial world, but IT is
not that that develops mans fortunes
beyond the point of a decent living. On
the other hand, there are men who are
the exact opposite of the Tim Linkinwa-
ters. men who are all dash and brayado,
who attempt a big conp-that word |
use because it expresses the idea better
than anything | happen to know in the
English language-such men are always
sure to make worse failures in the street
than the slow. methodical plodders- Yet
most outsiders, imagine, take all brok-
ers for just such men, because the magni-
tude of operators is offtimes binding and
the public cannot see the real circum-
stances at the back Of them.
The essential difference between our
business and that of any other man is
that a broker has to square his books ey-
erv day and see where he stands. A
dry goods man could fail and not find ii
out for months nut if a broker has not
the capital to work with be finds it out
in double quick order Commercial pa
per is Of little account; he must have col
lateral.
'The great point TO bear in mind about
Wall street business is this: If man
starts in and wants TO make fortune at
once he will barely make a living; if he
starts out with the purpose of making
living he will end in most eases by max
ing fortune Ii will take about twenty
wears on the average.
But does not the record show that 5.
Y. White made a million in one day ON
the occasion Of certain series of transac
tions in Lackawanna?
Mr.. White lhe is not deacon at all,
by the way smiled all over his face as
he recalled that pleasant incident in his
career.
THAT is about the figure" he admit
ted, -.but YOU must bear in mind that |
had been on the street almost twenty
years at that time. and had accumulated
by conservative management, avoiding
sensational coups, enough capital to justi-
fv the great risks took on that Lacka-
wanna operation.
But, sir, that episod should be no false
encouragement TO yonng fellows. Ii was
the opportunity of lifetime. and if
had been a Linkinwater it would have
passed undeveloped and if had been
from the start plunger | should have
had the capital to stand the strain it in
volved ."-C C0trisr Jorrn0i
Catarrh cured. health and sweet breath
secured by Shiloh's Catarrh Remedy.
Dr;.a lo ,a,ts Nasal 1pia,.ta, fraa S.ald